'The industry is not sustainable today': Significant casualties expected in Alberta drilling sector

CALGARY -- The Raptor Rig sits fully in a laydown yard in southeast Calgary, a shiny high-tech example of just how hard world events have hit the Alberta drilling industry.

Despite being billed as "the world’s first fully automated drilling rig" and boasting a reduction in drilling costs of up to 30 per cent, the $45-million Raptor Rig is the subject of a receivership sale before it has even seen one single day in operation.

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